Two Certificates of Deposit (CDs)pay Interest at Rates That Differ

question 57

Multiple Choice

Two certificates of deposit (CDs) pay interest at rates that differ by 4%. Money invested for 1 year in the first CD earns $90 interest. The same principal invested in the second CD earns $150. Find the two rates of interest.

• A)6%, 7%
• B)5%, 10%
• C)6%, 10%
• D)4%, 10%
• E)6%, 6%

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Definitions:

Spiritual Security

The concept of protecting a nation's non-material cultural values, religious beliefs, and moral principles to ensure its societal integrity and identity.

Testability

The capacity to be subjected to empirical testing or experimentation to confirm validity.

Comparative Reasoning

The process of making decisions or drawing conclusions based on the comparison of different data sets or scenarios.